The African Export-Import Bank (Afreximbank) has announced the appointment of Kanayo Awani as Managing Director of its intra-African Trade Initiative.

“Ms. Awani will lead Afreximbank’s efforts to raise the level of intra-regional trade in Africa by 50 per cent in the next five years to reach a trade volume of $250 billion,” said Afreximbank President Dr. Benedict Oramah in announcing the appointment.

“Kanayo brings many years of strong real-world experience in intra-African trade finance to this important assignment,” continued the President, who said that she had demonstrated unusual commitment to the vision of Afreximbank and exhibited the determination required for the effective delivery of the Bank’s goals.

The announcement by the Afreximbank said that Ms. Awani, whose appointment takes effect on 18 May, will now “have the primary responsibility of assisting the Bank in ensuring the attainment of its Intra-African Trade Strategy”.

Until the appointment, Ms. Awani was Director of Afreximbank’s Trade Finance and Branches Department which manages the Bank’s business development efforts in trade finance across Africa.

Prior to joining Afreximbank in 2009, she served for many years with Citigroup, her last position being that of Vice President and Head of Industrial and Commercial Corporates at Citigroup Nigeria.

Ms. Awani obtained a Master of Public Administration, specializing in International Trade and Finance, from Harvard University’s Kennedy School of Government in Cambridge, United States. She also holds the Edward S. Mason Fellowship in Public Policy and Management from the same University.

Afreximbank is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organisation, and the Charter, which governs its corporate structure and operations. Since 1994, Afreximbank has approved almost $35 billion in credit facilities for African businesses, including about $4.5 billion in 2014. Afreximbank is headquartered in Cairo.